Doctor Indicted for Student Loan Fraud

Susan W, Brooks, United. States Attorney for the Southern District of Indiana, announced that HEROLD PIERRE LOUIS, of New York, was indicted by a federal grand jury sitting in Indianapolis for student loan fraud, following an investigation by the U.S. Department of Education, Office of Inspector General.

The indictment alleges that PIERRE LOUIS engaged in a fraud on student loan program guaranteed by the United States Department of Education, by submitting false student loan applications in order to pay for his education at schools that were not eligible to receive Department of Education guaranteed loans. The indictment alleges that from 1996 to 2000 PIERRE LOUIS submitted applications for Department of Education, guaranteed loans that contained false or fraudulent information, such as certifications from schools that he did not attend, and certifications that the loan would not exceed maximum annual loan amounts when in fact they did exceed the maximum annual loan amount. Further, he promised to repay any money that he did not use according to the terms of the application, but he did not repay any money despite using the loan proceeds contrary to the terms of the application.

According to Assistant United States Attorney Winfield D. Ong, who is prosecuting the case for the government, PIERRE LOUIS faces a maximum possible prison sentence of 5 years and a maximum possible fine of $250,000. An initial hearing will be scheduled for PIERRE LOUIS before a U.S. Magistrate Judge in Indianapolis.

The indictment is an allegation only, and the defendant is presumed innocent unless and until proven guilty at trial or by guilty plea.